1927 S Garfield Rd, Airway Heights, WA 99001

Building Details

Year Built 1981 More

Listing Agency: eXp Realty, LLC Show Phone

Listed By: Hunter Mackay · License WA #20123491 Show Phone

Source: Themackaygroup

Added: Nov 11 Last Checked: Nov 13 at 11:21AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty, LLC

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 11,980-square-foot warehouse was built in 1981 and includes shop space. Exterior repainting and parking-area improvements have been completed. The property is designated for commercial use, with approval for 24/7 operations.

The site is near Amazon’s distribution center, Spokane International Airport, and major highways. The address is 1927 S Garfield Rd in Airway Heights.

Key Highlights

• 11,980 square feet of shop and warehouse space
• Commercial zoning with approval for 24/7 operations
• Exterior repainting and parking‑area improvements

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$83,857

Cap Rate

8.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,677,140 $1.7M

Cap Rate 7%

$1,197,957 $1.2M

Cap Rate 9%

$931,744 $931.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,980 SF

Gross rent

$107.8K $9.00/SF

− Vacancy

−$9.2K −$0.77/SF

EGI

$98.7K $8.24/SF

− OpEx

−$14.8K −$1.24/SF

NOI

$83.9K $7.00/SF

Area

Spokane County, WA

Vacancy

8.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,677,140

Cap Rate 7%

$1,197,957

Cap Rate 9%

$931,744

Alternative Uses

Best Use

Retail

$1.88M

$1.65M – $2.19M (±1% cap)

NOI $131,662 @ 7.0% cap · market cap 13.17%

Second Best

Warehouse

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,857 @ 7.0% cap · market cap 8.39%

Theoretical Best

Office A

$2.77M

$2.42M – $3.23M (±1% cap)

NOI $193,777 @ 7.0% cap · market cap 19.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Plumbing Service Garden Center Bakery (Bike/Boat/Book/etc) Store Computer & Electronic Repair Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

166

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 99001, WA

8,859

Population

2,739

Households

3.2

Avg Household Size

34

Median Age

18%

College-Educated

91%

High-School Grad

8.0 sq mi

ZIP Area

1,107

Density / Sq Mi

$60,182

Median Household Income

$34,200

Median Earnings

$1,271

Median Rent

$281,100

Median Home Value

Market

Average Price Trend$/SF for Warehouses in Spokane County, WA

$146 Jul

$314 Aug

$239 Sep

$139 Oct

Properties on Market for Warehouses in Spokane County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Commercial zoning and approval for 24/7 operations support a range of business activities.

Where is this warehouse located?

The property is located at 1927 S Garfield Rd Airway Heights, WA.

What is the asking price?

The asking price for this property is $999,500.

What are key features of this property?

This property features: 11,980 square feet of shop and warehouse space; Commercial zoning with approval for 24/7 operations; Exterior repainting and parking‑area improvements